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Dec 1, 2012 9:00am PST
were talking about potentially having government shut down. remember we're talking to you today about this because last fall the super committee that was supposed to find $1.2 trillion in savings failed to do that. now we're trying to replace those same automatic cuts. so i think there is a lack of trust right now between the main negotiators the house republicans and the white house. i was just talking to senator dick durbin the other day and i asked him, is there a trust problem now between the president and the speaker. he thought that there was. so they're going to have to work that out and very quickly in order to move forward. >> what about the trust problem that might result from this if we just continue to kick the can down the road, meredith, from the trust with the president, the trust with congress. i mean, don't you get a sense that the american public wants something done this time? >> well, sure. but i think that both sides are quite intransigent right now and holding the things they hold most dear, entitlement programs for the democrats or ref new rates for the republic
Dec 2, 2012 9:00am PST
combined with revenue. >> can i ask you, is the government capable of spending less money than it takes in? can they generate a surplus in these times. >> they did it during bill clinton. >> that was a couple decades ago. >> lyndon johnson was president. it can be done. both parties are guilty. the democrats spend more money without raising taxes. you can't do those things. this is a balance sheet deal. this is not a democratic versus republican issue. the difference between the parties is how much taxes and how many cuts. you need both. we are going to be in for some rough economic times, but it's going to be two quarters. that's what's going to have to happen. i don't think the compromises will be made that need to be made. let me say something about sbiesbie entitlements. we can get $400 billion out of medicare by doing one thing. and that's simply pay doctors and hospitals by the number of patients, not by the number of procedures they do. that's a simple thing to do. we need to pay by the patient, not by the procedure. you're going to have control over cost. >> gentlemen, thank you so
Dec 1, 2012 4:00am PST
because businesses are restocking their inventory levels and actually because government spending ticked up by about 9.5%. both of those added to economic growth in the third quarter. both of those are not necessarily sustainable. consumer spending on the other hand makes up about 70% of gross domestic product. we saw that tick down in part because of hurricane sandy in the third quarter. the early numbers for november, despite robust black friday are showing that consumers are still not really spending. that number is looking pretty flat. given that fact, estimates, analysts are estimating that those fourth quarter is not going to look so good. numbers as low as 1% as far as economic growth is concerned. quite frankly pretty terrible. >> that's not good. how about pending home sales? a little brighter there. the highest level since march of 2007. the contracts to buy existing homes have surged a little over 5% there. there seems to be momentum. do you expect this to continue? is it sustainable? >> i actually do. this is the latest rosy recovery report we've seen as far as housing
Search Results 0 to 2 of about 3